Bloomin’ Brands (NASDAQ:BLMN) Trading 9.2% Higher – Here’s Why

Bloomin’ Brands, Inc. (NASDAQ:BLMN) rose 9.2% during trading on Monday . The stock traded as high as $14.29 and last traded at $14.14. Approximately 880,818 shares traded hands during trading, a decline of 42% from the average daily volume of 1,520,038 shares. The stock had previously closed at $12.95.

Analysts Set New Price Targets

BLMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Bloomin’ Brands from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Raymond James lowered shares of Bloomin’ Brands from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. StockNews.com raised Bloomin’ Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America lowered their price target on Bloomin’ Brands from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Citigroup reduced their price objective on Bloomin’ Brands from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.70.

Bloomin’ Brands Stock Up 9.2 %

The company has a market cap of $1.20 billion, a PE ratio of -127.44 and a beta of 2.04. The firm has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $17.89. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.31 and a quick ratio of 0.22.

Bloomin’ Brands (NASDAQ:BLMN) last released its earnings results on Friday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Bloomin’ Brands had a negative net margin of 0.12% and a positive return on equity of 62.18%. Bloomin’ Brands’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. Research analysts anticipate that Bloomin’ Brands, Inc. will post 1.8 earnings per share for the current fiscal year.

Bloomin’ Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 25th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Monday, November 25th. Bloomin’ Brands’s payout ratio is -872.65%.

Institutional Trading of Bloomin’ Brands

A number of hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new position in Bloomin’ Brands during the 3rd quarter worth $26,000. KBC Group NV grew its stake in Bloomin’ Brands by 79.1% in the third quarter. KBC Group NV now owns 3,371 shares of the restaurant operator’s stock worth $56,000 after purchasing an additional 1,489 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bloomin’ Brands during the second quarter valued at approximately $111,000. Point72 DIFC Ltd acquired a new position in shares of Bloomin’ Brands in the 2nd quarter worth approximately $169,000. Finally, Olympiad Research LP bought a new stake in shares of Bloomin’ Brands in the 3rd quarter valued at approximately $202,000.

About Bloomin’ Brands

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.